Li Ning Company Limited is one of China's premier sports brand enterprises, founded by the renowned Chinese gymnast Li Ning. Incorporated in the Cayman Islands with limited liability and headquartered in Beijing, the Company listed on the Main Board of the Hong Kong Stock Exchange on June 28, 2004, trading under the codes 2331 (HKD counter) and 82331 (RMB counter). The Group possesses integrated capabilities spanning brand marketing, R&D, design, manufacturing, distribution, and retail management. It has established an extensive retail distribution network and a sophisticated supply chain management system across China. Its corporate vision is to become the most prominent, stylish, and world-leading sports brand originating from China.

Beyond the flagship LI-NING brand, the Group operates a diversified portfolio of proprietary and licensed brands. This includes the core LI-NING line for professional and casual footwear, apparel, and equipment; Double Happiness (DHS) for table tennis; AIGLE for outdoor pursuits; Danskin for dance and yoga; and Kason for badminton, managed through joint ventures or associates. Sub-brands such as LI-NING 1990 cater to the premium sports-fashion and golf segments, while LI-NING YOUNG focuses on the junior professional sports market. The Group adheres to a "Single Brand, Multi-Category, Multi-Channel" strategy and leverages proprietary technologies, including its ultra-responsive BOOM midsole platform, carbon-core cushioning systems, and advanced fiber materials, to serve both elite athletes and mass consumers.

For the fiscal year ended December 31, 2025, revenue increased by 3.2% to RMB 29.60 billion. Gross profit reached RMB 14.49 billion, representing a group-wide gross margin of 49.0%. Net profit attributable to equity holders stood at RMB 2.94 billion, with a net margin of 9.9%, and basic earnings per share were RMB 1.1391. Operating cash inflow amounted to RMB 4.85 billion, with cash and time deposits totaling RMB 20.0 billion. By product category, footwear contributed RMB 14.65 billion (49.5% of revenue), apparel RMB 12.33 billion (41.6%), and equipment and accessories RMB 2.62 billion (8.9%, up 12.7% year-on-year). The Board proposed a final dividend of RMB 0.5695 per share, translating to a 50% payout ratio. During the year, the Group renewed its partnership with the Chinese Olympic Committee for 2025–2028, entered a collaboration with the Chinese National Fencing Team, and inaugurated its first standalone outdoor concept store, "Counterflow," in Beijing, signaling a strategic pivot towards professional sports and high-growth outdoor segments.

李宁有限公司是中国领先的体育品牌企业之一，由著名体操运动员李宁先生创立。公司在开曼群岛注册为有限责任公司，总部位于北京，于2004年6月28日在香港联合交易所主板上市，股份代号分别为2331（港币柜台）及82331（人民币柜台）。集团具备品牌营销、研发、设计、制造、经销及零售管理的综合运营能力，并已在中国建立起庞大的零售分销网络与成熟的供应链管理体系。公司愿景是成为源自中国、享誉世界的顶尖潮流运动品牌。

在核心李宁主品牌之外，集团运营着多元化的自有及授权品牌组合。除服务于专业及休闲运动鞋服与器材的主品牌线外，还包括专攻乒乓球的红双喜（DHS）、专注户外运动的艾高（AIGLE）、面向舞蹈与瑜伽领域的丹斯金（Danskin），以及通过合资或联营公司运营的羽毛球品牌凯胜（Kason）。副线品牌如李宁1990（LI-NING 1990）深耕高端运动时尚与高尔夫市场，李宁YOUNG则聚焦青少年专业运动领域。集团坚持“单品牌、多品类、多渠道”的发展策略，并依托自主研发的“超䨻”中底平台、碳核芯缓震系统及先进纤维材料等核心技术，服务于职业运动员与大众消费者。

截至2025年12月31日止财政年度，集团收入同比增长3.2%至296.0亿元人民币。毛利达144.9亿元，整体毛利率为49.0%。权益持有人应占溢利为29.4亿元，净利率为9.9%，每股基本盈利为1.1391元人民币。经营活动现金流入达48.5亿元，现金及定期存款合计200.0亿元。按品类划分，鞋类收入146.5亿元（占总营收49.5%），服装收入123.3亿元（41.6%），器材及配件收入26.2亿元（8.9%，同比增长12.7%）。董事会建议派发末期股息每股0.5695元人民币，派息比率为50%。报告期内，集团续约成为中国奥委会2025至2028年官方合作伙伴，携手中国国家击剑队，并于北京开设首家户外独立概念店“COUNTERFLOW 溯”，标志着集团向专业运动及高增长户外细分市场的战略转型。